China’s Global Green Dominance
• Introduction
In his speech at the World Economic Forum in Davos, President Xi Jinping argued in favor of globalization and the necessity for the international community to actively regulate it while minimizing its negative impacts. He emphasized how China’s recent changes are consistent with the trend of globalization and how China is not only a beneficiary of this trend but also a contributor to it. China’s Global Green Dominance. The most significant statement made by Xi was that China is dedicated to “a basic policy of opening-up,” clearly promising to maintain open borders for foreign investment and further global economic integration.
Xi’s goal for China to lead the push for globalization is implied throughout his address, despite the fact that he did not explicitly call for it.
However, nations remain dubious of Xi’s assertion that China can actively lead the world economy through free trade and investment. In order to further its own national goals, China is becoming more and more willing to employ economic coercion in traditional industries like manufacturing, retail, and tourism. China’s Global Green Dominance. Critics have also cited the nation’s protectionist measures as evidence that its claims of ongoing openness are false.
For many years, China has utilized a “negative list” to prevent foreign investment in specific areas, and it has also used unfairly applied trademark rules to target international companies.
However, it is important for the international community to know that China sincerely wants to lead the world in the development and investment of renewable energy. China already holds the top spot in terms of the output of renewable energy. China’s Global Green Dominance. It is currently the largest local and international investor in renewable energy, as well as the top producer of wind and solar energy worldwide.
Chinese corporations closed four of the top five renewable energy transactions in the world in 2016. The world’s leading manufacturer of wind turbines and five of the six largest solar module manufacturers are both owned by China as of the beginning of 2017.
This is just the beginning. 20% of the nation’s primary energy consumption is expected to come from non-carbon sources by 2030, according to moderate predictions. China’s Global Green Dominance. However, Beijing’s aggressive pursuit of developing and growing renewable energy markets should not be disregarded due to China’s immense size.
After all, dominating these markets has significant material advantages, whereas leading a green revolution offers intangible advantages in terms of the prestige and image of the state.
• What Are The Benefits For China?
First, it should be accepted that environmental concerns are very genuine in China due to problems like air, food, and water pollution. Beijing also doesn’t want a shortage of food, water, or clean air, whether out of concern for the environment or out of worry for the legitimacy of its government.
However, it is important to take into account the geopolitical effects of climate change leadership. Consider the US, which historically has been the biggest carbon emitter. China’s Global Green Dominance. Prior to now, the nation had engaged in climate policy, although being somewhat hypocritical (support for hydraulic fracturing, for instance).
However, the current Trump administration, which withdrew from the Paris Agreement, is open in its irrational denial of climate change. Additionally, it has appointed doubters of global warming to run its environmental agencies and other powerful positions.
In contrast to China, which is becoming increasingly aggressive. In 2016, it became the largest shareholder of the new Asian Infrastructure Investment Bank, which invests heavily in green energy alongside the New Development Bank established in BRICS. China’s Global Green Dominance. These two institutions are considered potential competitors of the IMF and World Bank.
Of course, when China “goes green” and everyone else stares blankly, the situation is not black and white. For example, the Shanghai Cooperation Organization (SCO), which advocates for the political, economic, and military integration of Eurasia, the world’s largest landmass, is made up of countries with strategic interests in exporting hydrocarbons and coal.
But the same goes for the greener Obama administration. The Obama administration, which pushed hard for the Trans-Pacific Partnership, dismissed attempts to build green industries, binding signatories to deals with big business before addressing climate change. China’s Global Green Dominance. To end this, former president Obama argued to shape the US in a way where they are benefited from global trade with the US.
“Going green”, then, while undeniably necessary, is a useful image or value to uphold as it serves legitimate Chinese international and regional leadership. In this sense, it mirrors the way G7 nations espouse “democracy” or “freedom”. China’s Global Green Dominance. Going green also happens to be economically viable for those that have the funds to invest, contributing to China’s transition from the world’s manufacturing base to a truly major power.
China’s response to climate change combined with the size of its economy has thrust it to the center of a global shift. Large-scale funding through Chinese-led multilateral frameworks could see a new energy system emerge – led by China. China’s Global Green Dominance. This would greatly extend its influence on the international political economy at the expense of those major powers unable or unwilling to respond.
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